The launch of spot Bitcoin and Ethereum ETFs in 2024 marked a significant shift in the crypto industry, attracting vast inflows and legitimizing cryptocurrency on Wall Street. As of now, eleven Bitcoin ETFs manage $113 billion in assets, with BlackRock's iShares Bitcoin Trust ETF leading with $53.5 billion in assets. This trend increased Bitcoin's trading volumes and transformed market structures, especially after high-profile events like Trump’s reelection led to substantial price rallies. Grayscale, once a titan in the ETF space, suffered $21 billion in outflows from its products, attributed to increased competition and regulatory hurdles, but expressed some optimism with recent developments. Ethereum also saw ETF approvals amid uncertainty surrounding its regulatory status, although it has not matched Bitcoin's tremendous growth. Despite lower inflows for Ethereum ETFs, the market is slowly accommodating various digital assets. Looking ahead, the future of crypto ETFs may further pivot based on upcoming SEC leadership changes and growing demand in digital assets.

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